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Hong Kong shares end morning lower led by China stocks; CNOOC slumps - UPDATE.
(From AFX Europe (Focus))
HONG KONG (XFN-ASIA) - Share prices finished the morning lower led by China stocks following further falls in A-shares on the mainland, with trade also cautious as Wall Street was closed Monday for a public holiday.
Oil producer CNOOC slumped more than 5 pct following a big decline in crude oil prices.
Oil fell about 4 usd a barrel last night as Hurricane Gustav weakened as it neared the US Gulf Coast, easing concerns about possible damage to vital energy facilities in the region.
China Mobile extended its recent losses, hitting a new low for over 52 weeks amid continuing worries over its future earnings growth.
Aluminum Corp of China (Chalco) slumped more than 4 pct after HSBC cut its target price on the stock due to a challenging second-half outlook, among other factors.
PC maker Lenovo was down over 5.8 pct, …
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